You are no doubt aware of the new, if somewhat costly, service provided by Figureprints in cooperation with Blizzard, which allows you to receive a real-life statuette of your character from the game. This likely appeals most to players whose characters have progressed far enough in either raiding or PvP to acquire some of the really impressive looking gear for their characters.
Yet, as these two comics from Penny Arcade point out (part one and part two), they don't exactly make for good gifts, unless the giver is very keen on the wishes of the recipient. For players who haven't acquired high-end class armor, the appearance of our characters may inspire more shame than pride. Certainly a lot of the armor we might happen to possess isn't the kind of stuff you'd want to place on the mantle above your fireplace.
Nonetheless, if you were to receive such a gift, you wouldn't necessarily have to quit one's job to grind honor and raid for a few months. There are some relatively attractive sets of armor available for purchase on the auction house, and, though they won't impress those friends who really know their WoW gear, they might just look good enough to impress everyone else.